Bank Austria Rethinks Expansion in Hungary

Published: October 12, 2011; 18:33 · (Vindobona)

The subsidiary of Italian UniCredit reviews its activities in the country. A withdrawal is not ruled out.

Bank Austria Rethinks Expansion in Hungary / Picture: © Uni Credit Group Bank Austria

Bank Austria, which is responsible for the UniCredit Group’s business in Central and Eastern Europe, will rethink its “ambitious expansion plans” for Hungary. The country’s Parliament has recently adopted a law that allows borrowers to convert foreign currency loans at the expense of banks.

“We want to grow organically in Hungary”, stated Gianni Franco Papa, Head of…

This article includes a total of 161 words.

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